« September 2007 | October 2007 | November 2007 »

  • Oct
  • 31
  • 2007
  • 6:16 PM

Three words: NYSE. Open. Free!

By: Ray Pellecchia
File Under: NYSE

No Halloween trick, either. Instead, starting tomorrow, the open is our treat.

more »

  • Oct
  • 30
  • 2007
  • 6:25 AM

NYSE Euronext, BIDS plan joint venture to enhance liquidity and execution quality for block trades

By: Ray Pellecchia
File Under: MatchPoint, NYSE

"...bringing block-size orders back into contact with active traders, algorithms and retail flow."

more »

  • Oct
  • 29
  • 2007
  • 12:00 PM

Special testing for end of Daylight Savings; easier comp for system failures; collars being eliminated

By: Ray Pellecchia
File Under: NYSE

Let me tell you a couple-three things, as they used to say on "The Sopranos." The first is new; the others, I'm playing catch-up on.

more »

  • Oct
  • 23
  • 2007
  • 1:00 PM

Readers discuss automating NYSE openings

By: Ray Pellecchia
File Under: NYSE

I wish I had an API to do the grunt part of posting links to the blog, which involves rather tedious cutting and pasting, and inserting bits of code. That would save me a few minutes I could put toward researching or writing something useful.

Or taking a quick nap.

more »

  • Oct
  • 19
  • 2007
  • 10:58 AM

It was 20 years ago today

By: Ray Pellecchia
File Under: NYSE

John J. Phelan, Jr.: "I went down to the SEC and said the whole business of portfolio insurance and index arbitrage is a recipe for disaster. Some firms got grumpy as they were making money out of it. I commissioned a study in July 1987 and promised my board I would stop talking about it [portfolio insurance] as people who were using it and making a lot of money out of it did not like me talking about it."

more »

  • Oct
  • 18
  • 2007
  • 4:50 PM

The Crash of 1987 and today

By: Ray Pellecchia
File Under: Liffe derivatives, NYSE, NYSE Arca, Options

Morituri te salutamus.

Leave it to Art Cashin -- a classic himself -- to come up with a classic reference in a historical language. Not up on your Latin? Translation and some Crash of 1987 reflections after the jump.

more »

  • Oct
  • 17
  • 2007
  • 6:18 AM

Q&A: Where is the volume going?

By: Ray Pellecchia
File Under: NYSE

Plus: a hypothetical Week When NYSE Rolled Back Hybrid.

more »

  • Oct
  • 16
  • 2007
  • 8:07 AM

'After Crash, NYSE Got the Message(s)'

By: Ray Pellecchia
File Under: NYSE

From a capacity of 95 messages per second to 64,000. And I hardly think we're going to stop there.

more »

  • Oct
  • 09
  • 2007
  • 6:48 AM

Already haunted by ghosts of the Yankees' season

By: Ray Pellecchia
File Under: Miscellaneous

I drag myself onto the train this morning and look up at the poster-sized ad on the wall across from me, and it's a big picture of Yankee skipper (at least at the moment) Joe Torre...

more »

  • Oct
  • 08
  • 2007
  • 6:24 AM

A virtual look at Asian companies; China Digital TV is our 10th Chinese listing in 2007; and more links for 8 Oct. 2007

By: Ray Pellecchia
File Under: Miscellaneous

Plus, a new high for the NY (index, that is); NYSE buys a parcel and settles in (in 1863); and have faith, Yankee fans -- here's proof that anything is possible.

more »

  • Oct
  • 05
  • 2007
  • 3:20 PM

'NYSE Seeks Faster Trading by Opening Some Stocks Automatically'

By: Ray Pellecchia
File Under: NYSE

This makes sense. Let the machines do the machine work and let the specialists tackle the tougher ones. Get the customers a faster opening overall.

more »

  • Oct
  • 03
  • 2007
  • 7:44 PM

New reserve display requirements take effect tomorrow, 4 October

By: Ray Pellecchia
File Under: NYSE

The desired end result is that customers will be able to access a deeper pool of liquidity and thus get better trade executions.

more »

  • Oct
  • 03
  • 2007
  • 12:16 PM

What are the NYSE fees for opening-only and Market on Close orders?

By: Ray Pellecchia
File Under: NYSE

A reader asks for clarification on whether such orders are seen as providing or taking liquidity. The answer is that we charge them a blended rate.

more »

  • Oct
  • 03
  • 2007
  • 10:50 AM

Growth continues in our U.S. equities biz, but even faster in options, Europe

By: Ray Pellecchia
File Under: Miscellaneous

Closest to home (for me), I see that NYSE and NYSE Arca volume in cash equities continues to grow, and I appreciate every single order. The eye-popping piece of this news release, however, is the growth at NYSE Arca Options and European cash and derivatives trading.

Plus: a little Woody Guthrie for your Wednesday pondering.

more »

  • Oct
  • 01
  • 2007
  • 9:29 AM

New 4Q levels for circuit breakers and trading collars

By: Ray Pellecchia
File Under: Miscellaneous

Plus: The SEC turns 73; NYSE adds a half-hour to the trading day and drops Saturday trading (back in 1952); and why you should never listen to predictions.

more »